Vanadi plans to fund its BTC acquisitions by issuing a large number of new Vanadi shares.

Source: beincrypto

Translation: Blockchain Knight

"The Spanish coffee chain brand Vanadi plans to invest over $1.1 billion to purchase BTC as a core initiative of its new reserve strategy. This is a rising trend among global corporate boards.

The company does not intend to use BTC to supplement its income but aims to fully transform into a BTC-centric business. After incurring losses in 2024, Chairman Salvador Martí is betting on the Web3 space.

MicroStrategy was the first company to establish a large-scale BTC reserve, and this practice has become a significant trend in recent months. From logistics companies in China to football teams in France, various types of businesses are purchasing BTC, and now a new company has joined this ranks.

Local media recently reported that the Spanish company Vanadi Coffee SA will invest $1.1 billion to purchase BTC.

Some large enterprises adopt BTC reserves to enhance diversified portfolios, but this is not Vanadi's goal. Chairman Salvador Martí plans to shift the company entirely from the coffee business to the BTC business, similar to MicroStrategy's approach. In the next board meeting on June 29, Martí clearly stated the intention to transform Vanadi into a "BTC-first" company.

Reportedly, Martí said, "I request the board to authorize me to implement a BTC accumulation strategy, with an investment cap of €1 billion (approximately $1.1 billion), and grant full authority to negotiate one or more convertible financing channels to fund the implementation of this strategy."

Martí's plan mirrors MicroStrategy on multiple levels: like Michael Saylor, Martí plans to fund these BTC acquisitions by issuing a large number of new Vanadi shares.

He made his first purchase two weeks ago, acquiring 5 BTC for about $500,000. This large-scale investment commitment caused Vanadi's stock price to soar at one point, but most of the gains receded later that day.

The dramatic fluctuations in stock price highlight the potential risks of Vanadi's transition to BTC. Currently, BTC's volatility may be lower than usual, but its price can still experience extreme fluctuations.

Tying the company's fate to BTC also exposes the company to various new risks.

Nevertheless, BTC may still be Vanadi's hope. The company incurred a loss of $3.7 million in 2024, nearly $600,000 more than its annual revenue.

Earlier this year, GameStop faced a similar predicament, but its BTC investments have yielded good returns. Since investing in March, GameStop has continued to increase its holdings and has become a major holder of BTC. Perhaps BTC will bring the same effect to Vanadi."

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